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| | 42. - (1) Schedule 1A to the Taxes Management Act 1970 (claims, etc. not included in returns) is amended as follows.
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(2) In paragraph 1, for the definition of "profits" substitute-
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(a) in relation to income tax, means income,
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(b) in relation to capital gains tax, means chargeable gains, and
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(c) in relation to corporation tax, means profits as computed for the purposes of that tax;".
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(3) In paragraph 2(5)(c) after "section 12 of this Act" insert "or paragraph 13 of Schedule 18 to the Finance Act 1998".
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(4) In paragraph 2A (keeping and preserving of records), in sub-paragraphs (3) and (5)(a) after "12B(4A) of this Act" insert "or paragraph 22(3) of Schedule 18 to the Finance Act 1998".
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(5) In paragraph 5 (power to enquire into claims), in sub-paragraph (3)(b) for "section 9A(1), 11AB(1) or 12AC(1) of this Act" substitute "section 9A(1) or 12AC(1) of this Act or paragraph 24 of Schedule 18 to the Finance Act 1998".
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(6) In paragraph 6 (power to call for documents for purposes of enquiries), for sub-paragraph (3) substitute-
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"(3A) In complying with a notice under this paragraph copies of documents may be produced instead of originals, but-
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(a) the copies must be photographic or other facsimiles, and |
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(b) the officer may by notice require the original to be produced for inspection. |
| | A notice nder paragraph (b) must specify the time (which must not be less than 30 days) within which the company is to comply with it.
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(3B) The officer may take copies of, or make extracts from, any document produced to him under this paragraph.
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(3C) A notice under this paragraph does not oblige the claimant to produce documents or provide accounts or information relating to the conduct of any pending appeal by the claimant.".
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(7) After that paragraph insert-
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"Appeal against notice to produce documents, etc |
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6A.- (1) An appeal may be brought against a requirement imposed by a notice under paragraph 6 to produce documents or provide accounts or information.
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(2) Notice of appeal must be given-
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(b) within 30 days after the notice was given to the claimant, |
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(c) to the officer of the Board by whom that notice was given. |
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(3) On an appeal under this paragraph the Commissioners-
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(a) shall set aside the notice so far as it requires the production of documents, or the provision of accounts or information, which appears to them not reasonably required for the purposes of the enquiry, and |
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(b) shall confirm the notice so far as it requires the production of documents, or the provision of accounts or information, which appear to them are reasonably required for the purposes of the enquiry. |
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(4) A notice which is confirmed by the Commissioners (or so far as it is confirmed) has effect as if the period specified in it for complying was 30 days from the determination of the appeal.
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(5) The decision of the Commissioners on an appeal under this paragraph is final and conclusive.".
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| | 43. - (1) Schedule 3A to the Taxes Management Act 1970 (electronic lodgement of tax returns) is amended as follows.
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(2) In paragraph 1(4)(a), after "Part II of this Act" insert "or Schedule 18 to the Finance Act 1998".
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(3) In paragraph 8(2)(a), after "Part II of this Act" insert "or Schedule 18 to the Finance Act 1998".
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Income and Corporation Taxes Act 1988 (c.1) |
| | 44. - (1) Section 246Q of the Taxes Act 1988 (repayment or set-off of ACT in respect of foreign income dividend) is amended as follows.
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(2) In subsection (6) for the words from the beginning to "section 11 of the Management Act" substitute "A company tax return made by the company for the relevant period".
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(3) In subsection (7) for "a return under section 11 of the Management Act" substitute "a company tax return".
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| | 45. - (1) Section 246U of the Taxes Act 1988 (repayments treated as repayments of ACT in case of international headquarters company) is amended as follows.
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(2) In subsection (7), for paragraph (a) substitute-
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"(a) a company tax return made by the company for the accounting period, or". |
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(3) In subsection (8) for "a return under section 11 of the Management Act" substitute "a company tax return".
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| | 46. For section 412 of the Taxes Act 1988 (group relief: claims and adjustments) substitute-
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| "Claims and adjustments. |
412. - (1) Claims for group relief are dealt with in Part VIII of Schedule 18 to the Finance Act 1998.
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(2) Paragraph 73 of that Schedule provides for assessments or other adjustments where group relief has been given which is or has become excessive.".
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| | 47. - (1) Section 419 of the Taxes Act 1988 (tax on loans to participators, etc. by close company) is amended as follows.
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(2) In subsection (3), after "due and payable" insert "in accordance with section 59D of the Management Act".
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(3) In subsection (4) for "by discharge or repayment" substitute-
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" -
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(a) where the claim is included in the company tax return for the accounting period in which the charge to tax arises, by deduction in computing the amount of tax payable; |
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(b) in any other case, by discharge or repayment of tax.". |
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| | 48. - (1) Section 488 of the Taxes Act 1988 (co-operative housing associations) is amended as follows.
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(2) In subsection (11A)-
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(a) in paragraph (a) for the words from the beginning to "amendment of a return" substitute "into a company tax return", and |
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(b) in the closing words, for "self-assessment" substitute "return". |
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(3) For subsection (12) substitute-
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"(12) A housing association making a claim under this section may be required-
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(a) under paragraph 3 of Schedule 18 to the Finance Act 1998, if the claim is included in a company tax return, and |
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(b) under paragraph 2(5) of Schedule 1A to the Taxes Management Act 1970 if it is not so included, |
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to deliver as part of the return or claim an authority, granted by all members of the association, for any relevant information contained in any return made by a member under the provisions of the Income Tax Acts to be used by an officer of the Board in such manner as he may think fit in connection with any enquiry relating to the association's claim.".
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| | 49. In section 489 of the Taxes Act 1988 (self-build societies), in subsection (9A)-
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(a) in paragraph (a) for the words from the beginning to "amendment of a return" substitute "into a company tax return", and |
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(b) in the closing words, for "self-assessment" substitute "return". |
| | 50. - (1) Schedule 13A to the Taxes Act 1988 (surrenders of advance corporation tax) is amended as follows.
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(2) In paragraph 5(1) for "a return under section 11 of the Management Act" substitute "a company tax return".
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(3) For paragraph 5(2) substitute-
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"(2) The provisions of Part VII of Schedule 18 to the Finance Act 1998 (general provisions as to claims and elections) do not apply to the making of claims.".
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(4) In paragraph 14(1) omit the words from "(which correspond" to "Management Act)".
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(5) In paragraph 14(6) for "an amendment of a self-assessment under section 28A(4) of that Act" substitute "an amendment of a company tax return under paragraph 34(2) of Schedule 18 to the Finance Act 1998".
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(6) In paragraph 14(8) omit the words from "against an amendment" to the end.
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| | 51. - (1) Schedule 19AB to the Taxes Act 1988 (pension business: payments on account of tax credits and deducted tax) is amended as follows.
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(2) In paragraph 1(4), for "section 11 return" substitute "company tax return".
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(3) For paragraph 1(6) substitute-
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"(6) Paragraphs 9, 10 and 57 of Schedule 18 to the Finance Act 1998 (claims to be included in company tax return and procedure for claims and elections not so included) do not apply to a claim for a provisional repayment.".
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(4) In paragraph 1(7) for "section 7 of this Act" substitute "paragraph 9(1) of Schedule 18 to the Finance Act 1998".
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(5) For paragraph 1(10) and (11) substitute-
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"(10) In this paragraph-
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"latest company tax return", in the case of an accounting period of a company ("the current accounting period"), means, subject to sub-paragraph (11) below, the company tax return for the latest preceding accounting period of the company for which such a return has been delivered before the making of the first claim for a provisional repayment for the current accounting period; and |
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"self-assessment" means an assessment included in a company tax return, and includes a reference to such an assessment as amended. |
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(11) In any case where-
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(a) there is a company tax return which would, apart from this sub-paragraph, be the latest such return in the case of an accounting period of a company, |
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(b) the self-assessment required to be included in that return has been amended, and |
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(c) that amendment was made before the making of the first claim for a provisional repayment for the accounting period mentioned in paragraph (a) above, |
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the return which is to be regarded as the latest company tax return in the case of that accounting period shall be that return as it stands amended immediately after the making of that amendment of the self-assessment (or, if the self-assessment has been so amended more than once, that return as it stands amended immediately after the making of the last such amendment) but ignoring amendments which do not give rise to any change in the fraction which, on the basis of the return as it has effect from time to time, would be the relevant fraction for the purposes of section 432A(5) for the accounting period to which the return relates.".
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(6) In paragraph 2(1)(c), for "section 11 return" substitute "company tax return".
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(7) In paragraph 3(1) for "section 30 of the Management Act" substitute "paragraph 52 of Schedule 18 to the Finance Act 1998".
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(8) In paragraph 3(1A) for "section 7 of this Act" substitute "paragraph 9(1) of Schedule 18 to the Finance Act 1998".
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(9) For paragraph 3(1D) substitute-
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"(1D) Paragraph 53 of Schedule 18 to the Finance Act 1998 (time limit for recovery of excessive repayments etc.) does not apply to an assessment under paragraph 52 of that Schedule made by virtue of this paragraph.
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But such an assessment is not out of time under paragraph 46 of that Schedule (general six year time limit for assessments) if it is made not later than the end of the accounting period following that in which the self-assessment mentioned in sub-paragraph (1)(a) above becomes final.".
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(10) In paragraph 3(3) for "section 30 of that Act" substitute "paragraph 52 of Schedule 18 to the Finance Act 1998".
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(11) In paragraph 3(7) for "section 30 of the Management Act" substitute "paragraph 52 of Schedule 18 to the Finance Act 1998".
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(12) In paragraph 3(9) for "a return under section 11 of the Management Act by virtue of section 11AA of that Act" substitute "company tax return".
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(13) In paragraph 6(4)(b) for "return under that section" substitute "company tax return".
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